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GST Letter Of Undertaking

The audit under GST entails a thorough review of the records, returns, and other documentation maintained by a GST-registered individual or entity. This process ensures the accuracy of the reported turnover, taxes remitted, refunds sought, and input tax credits claimed, as well as other compliance aspects mandated by the GST Act. These evaluations are conducted by a qualified professional authorized to perform such audits.

Complete Your GST Letter Of Undertaking

GST Letter Of Undertaking. Online with Auriga Accounting

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  • Submit Your Required Documents
  • Track Application Status
  • Received your Certificate

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Why Should I Use Auriga Accounting of GST Letter Of Undertaking?

Auriga Accounting has a team of registration experts who can provide complete guidance to GST Letter Of Undertaking.

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Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for GST Letter Of Undertaking

Complete your Filing

Complete Your GST Letter Of Undertaking

Why Should I Use Auriga Accounting of GST Letter Of Undertaking ?

Auriga Accounting has a team of registration experts who can provide complete guidance to GST Letter Of Undertaking.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for GST Letter Of Undertaking

Complete your Filing

Complete Your GST Letter Of Undertaking

Overview
Benefit
Eligibility
Documents
Checklist
Process

OVERVIEW - GST Letter Of Undertaking

In recent years, GST laws in India have undergone significant reforms aimed at simplifying the tax system. Initially, in 2017, GST registration required exporters to pay the Integrated Goods and Services Tax (IGST) to the central government. This posed cash flow challenges for exporters, as they had to pay tax upfront and wait months for refunds. To address this, the Central Government issued Notification 37/2017, which eased this requirement. It allowed export businesses to sell goods and services without paying IGST, provided they had a Letter of Undertaking (LUT).

The GST LUT enables businesses to carry out export transactions smoothly without paying IGST at the time of supply. This simplifies the export process and reduces the administrative burden associated with filing IGST. Registered taxpayers must apply for LUT on the GST portal using Form GST RFD-11, which is reviewed by GST authorities. This reform has significantly benefited exporters by streamlining procedures, promoting ease of doing business, and encouraging exports across India.

What is Annual Compliance For a One person Company?

Benefits of GST Letter Of Undertaking

Hassle-Free Exports: A GST Letter of Undertaking (LUT) enables companies to export goods and services without the immediate payment of GST, reducing costs and enhancing their competitiveness in the international market.

Optimized Working Capital: The LUT helps maintain exporters’ working capital by freeing up funds that would otherwise be tied up in tax payments, allowing businesses to use these resources for daily operations, expansion, and growth initiatives.

Lower Compliance Burden: The LUT streamlines the export process by removing the requirement for certain tax filings, allowing enterprises to concentrate on their core activities and boost overall productivity.

Eligibility For GST Letter Of Undertaking

  • Registered Taxpayers: The exporter must be a registered GST user.
  • No Prosecution for Tax Evasion: The applicant (exporter) should not have been prosecuted for any fraud or evasion under the CGST Act 2017, IGST Act 2017, or other applicable laws, where the evaded amount exceeds ₹2.5 crores.
  • No Pending Liabilities: The applicant must have no outstanding tax liabilities and must be compliant with all GST filing obligations, including timely GST return submissions and tax payments.
  • Exclusion of Casual and Non-Resident Taxable Persons: Casual taxable persons and non-resident taxable persons are not eligible for the LUT; they are required to provide a bank guarantee instead.

Documents Required for GST LUT Filing

  • GST Registration Certificate: A copy of the GST registration certificate is required to verify that the applicant is a registered taxpayer under GST.
  • PAN Card: A copy of the applicant’s Permanent Account Number (PAN) card (individual, company, or firm) is necessary for identification purposes.
  • Export Details: The applicant may be asked to provide details of their export activities, including the nature of goods or services and export turnover.
  • LUT Cover Letter: A formal request letter, signed by an authorized person, seeking approval for the LUT.
  • Bank Details: The applicant must submit bank account details, such as a cancelled cheque or bank statement, to confirm the business account.
  • GST RFD-11 Form: The relevant form, available on the GST portal, must be submitted as part of the application.
  • IEC Code: A copy of the Importer Exporter Code (IEC) license is required.
  • Authorization Letter: An authorization letter, if the LUT application is being signed by someone other than the business owner or director.
  • Board Resolution/Partnership Deed (for Companies/Partnership Firms): For companies or partnership firms, a copy of the board resolution or partnership deed authorizing the LUT application may be needed.
  • Declaration: A self-declaration by the applicant confirming compliance with GST laws and stating that there are no pending tax dues or GST filings.
  • Other Documents (if required): The GST authorities may request additional documents based on the specific nature of the business or circumstances.

Checklist for GST Letter Of Undertaking

  • Registered GST Number
  • Importer Exporter Code (IEC)
  • LUT Cover Letter signed by an authorized person
  • Duly completed GST RFD-11 form
  • Copy of the GST registration certificate
  • KYC documents for the authorized signatory
  • Cancelled cheque of the bank account designated for export transactions
  • The authorization letter for signing the LUT is not being signed by the business owner or head

Process of GST Letter Of Undertaking

  1. Access the GST Website: Log in to your GST account on the official GST portal using your credentials.
  2. Navigate to the LUT Section: From the main menu, select “Services” > “User Services” > “Furnish Letter of Undertaking.”
  3. Select the Financial Year: Choose the applicable financial year for which you are submitting the LUT.
  4. Attach Previous LUT (if applicable): If you have previously filed a LUT, you may upload it by clicking on the “Choose File” option.
  5. Complete the LUT Form: Fill in all required details, including the commitment to export goods or services within three months, adherence to GST laws, and acceptance to pay IGST with interest if the export does not occur.
  6. Provide Witness Details: Enter the names, designations, and addresses of two witnesses supporting the LUT.
  7. Sign the LUT: The LUT must be signed by the seller or an authorized signatory such as a partner, managing director, company secretary, or owner, using a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC).
  8. Submit the LUT: Click on “Sign and File with DSC” or “Sign and File with EVC” to complete the submission process.
  9. Receive Confirmation: Upon successful filing, you will receive an email and SMS containing the Application Reference Number (ARN) for your LUT.
  10. Track the Submission: You can monitor the status of your LUT application by navigating to “Services” > “User Services” > “View My Submitted LUTs” on the GST portal.

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